GLOSFER, COINVIL to Establish Cryptocurrency Exchange in the Philippines

- GLOSFER to establish security policies and security system for COINVIL to operate exchange

SEOUL, South Korea, May 10, 2018 /PRNewswire/ -- GLOSFER, a first-generation blockchain company in Korea, announced that it has signed an agreement with COINVIL on operating a cryptocurrency exchange in the Philippines.

Under the agreement, COINVIL will establish and operate a local corporation in the Philippines, while GLOSFER plans to build a cryptocurrency exchange and provide all solutions necessary for operating the exchange.

GLOSFER will also join efforts with COINVIL in formulating security policies and establishing a security system to help build a transparent and safe trading market.

"The Philippines will become the largest cryptocurrency trading market that connects Europe and Asia," said CEO Park Rae-hyun of COINVIL. "Many countries across the globe already have a favorable view on the Philippines. By combining our infrastructure and sales capabilities with GLOSFER's solutions and operations expertise, we will gain a competitive edge over others. Various projects will be carried out in the Philippines in addition to exchange building, such as creating an investment fund for promotion of the blockchain industry," Park added.

"Following this agreement, we at GLOSFER will utilize our exchange-related solutions and expertise to signal a positive change in the Philippines cryptocurrency market," said CEO Taewon Kim of GLOSFER. "I am excited about the business opportunities ahead of us."

GLOSFER is a leading blockchain technology and services company in South Korea. Building on its roots as a first-generation blockchain company, GLOSFER strives to expand its activities into various industries to bolster its reach in both domestic and international markets, by leveraging innovative technologies and services, including its PHP API blockchain platform PACKUTH and its online and offline cryptocurrency trading platforms. With its upcoming Infinity Project, powered by its HYCON coin, the company seeks to establish and facilitate its cryptocurrency ecosystem while contributing to a more transparent and fair society based on blockchain technology through cooperation with public institutions.